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Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by musicwriter(m): 10:17pm On Dec 22, 2019 |
healthserve: Thank you!. Note that West Africa wants to adopt a currency called ECO in the coming years. France is acually laying a landmine here. They're plotting to not only continue to control the finance of Francophone African countries but also the Anglophone countries when the ECO currency come on board. The ECO could be pegged on gold price or anything else but not the Euro. But watch how Buhari and co would gladly fall for this trick and continue to make Europeans richer. That's why they killed Muamah Ghadaffi as soon as he began talking about a continental African currency pegged on gold. African elites are fools!! 2 Likes |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Ilaje44(m): 11:50pm On Dec 22, 2019 |
BabaRamota1980: That's a big fat lie a lot Africans like to peddle around to console themselves. If the CFA countries would withdraw all their reserves from France, of course it would have an economic impact, but don't believe this would make France suddenly become a poor country. France is still a manufacturing hub of world repute. Even in the article, it is written that the combined GDP of the 14 countries is merely $300 billion (150 million people). Compare it to France's (https://en.m.wikipedia.org/wiki/Economy_of_France). Sentiment apart, if you ask me who would be poorer, I would like to suggest to you to look closer to home. French leaders aren't definitely going to deplenish their country's Reserve and spend on frivolities or stealing and locking it away in one foreign account. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Nobody: 12:47am On Dec 23, 2019 |
ibietela2:approving is not exiting |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by DexterousOne(m): 5:53am On Dec 23, 2019 |
GidiWoodsMan: Exactly You have spoken well Black countries of today cannot weather the storm of single currency |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by DexterousOne(m): 5:58am On Dec 23, 2019 |
Ilaje44: You have no idea how Françafrique works, and how it has enriched France for the last almost 70 years at Africa's expense They are still the "manufacturing hub" Manufacturing what? The Areva, Bollores and other French giants building France and paying most of France's revenues How do you think they get their monies? The uranium that generates 3/4 of France electricity (tell me which other country energy need is structured like this) Do you know the agreement signed with Mali and niger that facilitates this Plus the faulty pricing mechanism? Many of you just don t get it 2 Likes |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Alwaystruth: 11:48am On Dec 23, 2019 |
You people hardly read before you comment.. They are moving from Cfa to Eco which is the approved new west african currency. Pegging the incoming eco to euro is the real deal and has already made nonsense of the currency before it arrives. Anyways Macron seems more human than Sarcozy and Jack chirack when it comes to frencophone currency policies ..Anyways, west Africa and Africa in general are still western slaves and puppets.The real independent African presidents we have had in recent decades in Africa were Goodluck Jonathan...Robert Mugabe,Nelson Mandela, Laurent Gbagbo and few others. The rest are power grabbers like Buhari and are just there to serve their selfish interests and those of their foreign masters .. 1 Like |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Ilaje44(m): 1:41pm On Dec 23, 2019 |
DexterousOne: You said I have no idea, but failed to provide the facts on how Franceafrique is enriching France tremendously that it would lead to France becoming a poor country if the African countries should withdraw their Reserves. Also, you can as well provide snippets of the contracts France signed with Mali and Niger which can buttress your claim that France is cheating those countries. Do come forward with your facts please. I am waiting. No sentiments. Thank you. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by DexterousOne(m): 1:54pm On Dec 23, 2019 |
Ilaje44: You cannot get the details of the contract Because it's all shrouded in secrecy That's how francafrique works But you can get the sharing formula.... Like for example uranium The last time I checked Niger gets just 5% Which is scandalous Have you asked why a country so rich in uranium is so poor that their people are scattered everywhere It's due to, in part, Areva And the deals they made with the French govt We have captains of industry in Nigeria And Ghana And Kenya and South Africa You want to know why you won't find same in francophone countries? Cos they are not allowed to compete against French business interest in their own country Check the Forbes list You won't see significantly francophonethere It's not bycoincidence French companies are the ones giving them light, managing their ports(bollore) telecoms (Orange) , etc It's terrible for them And another document that you can lay your hand on that is not hidden Is the "Pact for the continuation of colonialism" In that Pact France has right of first refusal in everything Meaning that France buys their resource below market value Now that China is in the mix France is getting jittery In Nigeria case We can do business with whoever The higher bidder or briber wins It's not like that for them France also does what it wants with their reserves (can you imagine the interest and money France has made over 60 years from keeping over 60% of the reserves of 14 countries? ) Until much recently How will their combined GDP grow When the valuation is all wrong and faulty? If their resources were priced properly Like In Australia the gdp will jump Françafrique enriched France And helped them get to where they are today 2 Likes |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 3:15pm On Dec 23, 2019 |
Godhatesodomy: The idea of monetary union came before then. Dont start lying fallen man. The idea is almost 2 decades old. All Nigeria done is talk. It hasn't even met fiscal requirements to spear head it. They monarchs have nothing to with this. If they do explain why they failed to achieve their goal after decades. On April 20, 2000, in Accra, Ghana, the leaders of six West African countries declared their intention to proceed to monetary union among the non-CFA2 franc countries of the region by January 2003, as a first step toward a wider monetary union including all the ECOWAS3countries in 2004. The meeting was attended by three heads of state, Presidents Olusegun Obasanjo of Nigeria, Jerry Rawlings of Ghana, and Lansana Conté of Guinea, as well as representatives from Liberia, Sierra Leone, and The Gambia. Cape Verde, the remaining non-CFA ECOWAS member, has a currency peg to the euro with the support of Portugal, and was not a signatory of the "Accra Declaration on a Second Monetary Zone." |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Godhatesodomy: 3:31pm On Dec 23, 2019 |
Blue3k2: Talk is what you would like to be good at yet even then you are sub standard. When you doubt yourself, how high can you rise? Wake up out your slumber |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 3:33pm On Dec 23, 2019 |
Godhatesodomy: Lol when your lies get exposed you start rambling. What clowns your royal fathers must be to condone your lying ways. On April 20, 2000, in Accra, Ghana, the leaders of six West African countries declared their intention to proceed to monetary union among the non-CFA2 franc countries of the region by January 2003, as a first step toward a wider monetary union including all the ECOWAS3countries in 2004. The meeting was attended by three heads of state, Presidents Olusegun Obasanjo of Nigeria, Jerry Rawlings of Ghana, and Lansana Conté of Guinea, as well as representatives from Liberia, Sierra Leone, and The Gambia. Cape Verde, the remaining non-CFA ECOWAS member, has a currency peg to the euro with the support of Portugal, and was not a signatory of the "Accra Declaration on a Second Monetary Zone." |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Godhatesodomy: 3:38pm On Dec 23, 2019 |
Blue3k2: Stop trolling |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 3:39pm On Dec 23, 2019 |
Godhatesodomy: Stop lying then unless your god loves it. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by grandstar(m): 8:58pm On Dec 23, 2019 |
afroxyz: France may have some dependence on its former colonies but it is not as mighty as you think. If you free those colonies from France's grip, France will fully recover within a year or two. The dependency is overrated. That can easily be gleaned from the size of France's GDP compared to its former colonies. The stats do not lie. ''People believe what they want to believe' as a scammer once. The narrative that France is a malign exploiter of its former colonies to enrich themselves is far sweeter than the truth. 1 Like 1 Share |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by urahara(m): 9:09pm On Dec 23, 2019 |
grandstar: U are arguing with a drunkard. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by urahara(m): 9:10pm On Dec 23, 2019 |
grandstar: My brother pls which grip ? |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by grandstar(m): 9:27pm On Dec 23, 2019 |
urahara: French companies for instance have first refusal for any construction contract. I think it even extends to minerals such as crude oil. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by grandstar(m): 9:33pm On Dec 23, 2019 |
panafrican: I suspect France simply fancies a delusion of grandeur rather than let completely go of their former colonies. The United Kingdom on the otyher hand quickly cut its losses and accepted a reduction in its once might empty empire. France was reluctant to let go. France may have reasons why concerning the exchange rate but it does not change the fact that France's GDP is much bigger than its ex-colonies(up to 10 times) and would thrive if de-linked. 2 Likes 1 Share |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by urahara(m): 10:02pm On Dec 23, 2019 |
panafrican: Before the cfa franc, French colonies used the French franc , but when France ratified the Bretton Woods Agreement, the French franc had to be devalued.France didn't want it's colonies to suffer the consequences of the devaluation so it created a new currency for them called the cfa franc. P.s using the cfa franc is not by force , any country is free to leave at any point in time.Guinea left , Madagascar left. It is important to note that even Equitorial guinea ( ex Spanish colony ) joined the use of cfa franc. 1 Like 1 Share |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 11:43pm On Dec 23, 2019 |
urahara: The cult of victimhood dont read. Cape verde pegs its currency to the Euro and nobody claiming Portugal is forcing them. It's simply wrong to make every little issue frances fault. 1 Like 1 Share |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by panafrican(m): 3:52am On Dec 24, 2019 |
Blue3k2:How many military bases does Portugal have in its former African colonies ? How many military bases does the UK have in former British colonies in Africa ? Can you now ask the "innocent " French the same question ? |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 5:40am On Dec 24, 2019 |
panafrican: The question is irrelevant to the discussion. It wouldn't prove they were forced to use CFA frank as proof other countries leaving and joining freely. 1 Like |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Nanatrendy(f): 7:39am On Dec 24, 2019 |
DexterousOne:pathetic when are they going to fight for their rights |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by urahara(m): 7:44am On Dec 24, 2019 |
Blue3k2: And it's very likely that this Francophone countries that abandoned the cfa franc may regret it . |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Nanatrendy(f): 7:50am On Dec 24, 2019 |
panpan:yes that is exactly what they'very done with their slaves. I now understand why the ghanaian government has printed new cedis notes, we have given up on them. I hope one day they would wake up and break free from France but until then we will just watch |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by panafrican(m): 3:43pm On Dec 24, 2019 |
Blue3k2:If you ignored the history of CFA Franc since it was enacted by De Gaulle in 1945 , then linking French military bases to France's control over former French colonies would be irrelevant. None of the former colonies were given the freedom to choose. Guinea for instance was the victim of blackmails, embargos and military coups engineered by France from the late 1950s through mid 1970s . In Mali, Modibo Keita was overthrown after refusing to his country be a part of CFA Franc zone. This was in 1969. In Togo , Olympio was brutally assassinated by former French Army vets , the cover up was Olympio refused to enlist them in the army. |
Re: ECO: West Africa Renames CFA Franc But Keeps It Pegged To Euro by Blue3k2: 4:26pm On Dec 24, 2019 |
panafrican: They were plenty of opportunities to leave as urahara gave you examples of. Even Mauritania left in 1973. Then you have examples of countries willingly joining. Even after all your coups mentioned the only one that resulted in rejoining the CFA franc afterwards was Mali. Lol Mali didnt didnt even rejoin till 1984. If France reason for sponsoring coups was reinforce CFA they're extremely bad at it. 1 Like 1 Share |
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